Evercore ISI initiated coverage of WK Kellogg with an In Line rating and $13 price target. The analyst sees downside risk to the company’s revenue and gross margin if consumption trends remain weak. In addition, WK Kellogg has execution risk and free cash flow drag from its “ambitious supply chain modernization plan,” the analyst tells investors in a research note. The firm is looking for proof-points that the company is effectively executing its strategy.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on KLG:
- Buy/Sell: Wall Street’s top 10 stock calls this week
- WK Kellogg backs FY24 adjusted net revenue growth about flat vs. FY23
- WK Kellogg backs FY23 adjusted net revenue $2.72B-$2.74B, consensus $2.74B
- WK Kellogg reports Q3 EPS 49c, consensus 26c
- WK Kellogg Co Announces Third Quarter 2023 Financial Results and Reaffirms Financial Outlook